Award of Production Licence

 

TIDMGPC 
 
RNS Number : 6134R 
Genesis Petroleum Corporation PLC 
01 May 2009 
 

 
 
Genesis Petroleum Corporation Plc 
 
 
("Genesis") 
 
 
Award of Production Licence 
 
 
Genesis announces today that Genesis Petroleum Norway AS ("Genesis Norway"), a 
wholly-owned  subsidiary of Genesis, has been awarded an interest in one 
Production Licence offshore Norway, by the Ministry of Petroleum and Energy in 
relation to the 20th Licensing Round. 
 
 
Genesis Norway's participation is as follows: 
 
 
Blocks 6201/11 & 12 (parts) 
Genesis Norway    20% 
Spring Energy      20% 
Noreco           20% 
Lundin             40% (Operator) 
 
 
The Licence covers Blocks 6201/11 & 12 (parts) and extends to approximately 515 
square kilometers. It is located approximately 60 Km north of a world class oil 
province comprising the UK Magnus and Penguin fields and the Norwegian Snorre, 
Gullfaks, Statfjord N and Borg fields which all represent  analogues to the 
prospectivity defined in the Licence. The operating group has committed to drill 
an exploration well within 2 years. 
 
 
Genesis has already been awarded adjacent licences in the UK sector and this new 
Licence is complementary from a technical and strategic perspective. Analysis by 
Genesis Norway of existing 2D and 3D data shows prospectivity in the Triassic, 
Upper Jurassic, Upper Cretaceous and Tertiary. 
 
 
 
 
Michael Haagaard, Managing Director of Genesis Norway, commented: 
 
 
"I am very pleased with this award which has been achieved in a very competitive 
environment; it ultimately endorses the quality of our technical work and 
focused strategy. 
 
 
The well commitment is a very positive development for Genesis and does not 
challenge our financial resources. 
 
 
Block 6201/11 has significant prospectivity associated with the 6201/11-1 oil 
and gas discovery well drilled in 1987 and we look forward to unlocking this 
potential with our partners and creating value for our shareholders in the near 
future". 
 
 
Genesis Petroleum Corporation Plc 
Gerry Harrison    Tel: [phone] 
                                             Email: [e-mail] 
Genesis Petroleum Norway AS 
Michael Haagaard                              Tel: [phone] 
                                             Email: [e-mail] 
 
 
Pelham Public Relations 
Charles Vivian                               Tel: [phone] 
                                             Email: [e-mail] 
Evgeniy Chuikov                             Tel: [phone] 
                                             Email: [e-mail] 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
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